Liberal candidate drops out of South Korean presidential race

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Ahn Cheol-Soo, an independent presidential candidate pictured here on November 21, 2012 in Seoul, South Korea.

Story highlights

Ahn Cheol-soo had been working with Moon Jae-in to merge their bids

"From now on, Moon Jae-in is the single liberal candidate," Ahn says

Moon will face governing party candidate Park Geun-hye next month

South Korean presidential candidate Ahn Cheol-soo announced Friday that he is dropping out of the race, clearing the way for fellow left-leaning hopeful Moon Jae-in to face Park Geun-hye, the candidate for the governing Saenuri Party.

Ahn had been working with Moon, of the Democratic United Party, to merge their presidential bids ahead of next month's election, but the two had failed to reach an agreement.

Popular among conservative voters, Park has said she aims to focus on welfare policies. If elected, she would become the country's first-ever female president.

She is a daughter of former president Park Chung-hee, who stirs mixed feelings among South Koreans. Some claim he was a dictator who stifled opposition; others credit him with overseeing a key phase of South Korea's economic development. He was shot and killed by his intelligence chief in 1979.

Ahn, who founded an anti-virus software company, had gained popularity for his criticism of the large South Korean conglomerates, known as "chaebols." He has argued that the nation's economy is dominated by a few rich individuals.

He is a professor at South Korea's prestigious Seoul National University and a former medical doctor.

Moon, a close ally of late president Roh Moo-hyun, is a former human-rights lawyer who was jailed in the 1970s by Park's father.